Railway equipment includes electric multiple units (EMUs), locomotives and railway freight cars, in terms of the Chinese railway planning, that large railway freight car and bullet train is the direction of development of China's railway equipment manufacturing industry. The gap of locomotive manufacturing industry between China and developed countries is relatively large, especially in high-power electric locomotive and EMUs. After technology acquisition, China has acquired high-power electric locomotives, diesel locomotives and 200 km/h EMUs. Presently, the localization rate of parts and components of electric locomotive and EMUs reaches 70 per cent and 75 per cent respectively, and China has developed 300 km/h EMUs based on digesting and absorbing overseas' new technologies.